Meal Replacement Products - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Meal Replacement Products Market is accounted for $17.47 billion in 2019 and is expected to reach $33.55 billion by 2027 growing at a CAGR of 8.5% during the forecast period. Increasing awareness amongst consumers regarding maintaining a healthier lifestyle and high incidences of population suffering from obesity are the major factors driving the market growth. However, presence of a number of alternative source of nutrition that are available locally in various regions and high costs associated with the production and marketing of these products which results in overall higher costs of end-product are restraining the market growth.
Meal replacement products are the wide range food items containing drinks, energy bars, soups, and powders that contain high nutritional values. Meal replacement products are supposed to replace meals by nutritionally-balanced shakes or meals. These products are high in fiber and protein and are specially meant to work as substitute for solid food items and provide desired quantity of proteins and other nutrients.
Based on product, the bars segment is likely to have a huge demand. Hectic lifestyle and willingness spend on premium and convenience products are expected to prompt the consumption of bars as on-go snack alternatives in near future. By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to rapid urbanization, increasing population, and awareness regarding various nutritional dietary requirements in developing countries including China and India. Additionally, growing e-commerce in these regions is anticipated to boost the sales of meal replacement products.
Some of the key players profiled in the Meal Replacement Products Market include Abbott Laboratories, Amway Corp (Alticor), Blue Diamond Growers, Bob's Red Mill Natural Foods, General Mills, Glanbia PLC, Herbalife Nutrition, Nestle SA, SlimFast, Soylent, The Kellogg Company, The Kraft Heinz Company, The Simply Good Foods Company, Unilever and Wild Oats Markets.
Distribution Channels Covered:
• Convenience Stores
• Grocery Retailers
• Specialty Stores
• Food Services
• Liquid/ Drink Shakes
• Powder Products/ Protien Powder
• Ready to Drink Products
• Physical Fitness
• Weight Gain
• Weight Loss
• Wound Healing
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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